About being sucked in

When you fail, admit it. The cost can never be discounted. The increase must be capped, and the cap must be controlled. Never believe anything that doesn't sell, even if it costs money.

This is the golden rule that most people believe in and the fundamental reason why most people lose money. What do you mean? Stopping losses is not about stopping losses, it's like buying insurance, but we certainly don't want to have a chance of claiming them.

Most of them just don't understand stop loss because they are blind when they build a warehouse, so stop loss and stop profit are not discussed either.

A mature speculator considers four things when placing a position (the position point, the stop loss point, the stop win point, and the longest holding time).

When trying to determine a position point, the stop loss point, the stop win point, and the longest holding time are determined at the same time.

When looking for a place to build a warehouse, the following conditions should be verified in accordance with a well-established and well-established strategy (never by feeling):

• Stop loss value <= maximum acceptable risk
• Stop loss value <= (1/2) * Stop gain value
• Probability of stopping > Probability of stopping (this is based on personal experience, it takes a lot of time to overcome your own psychology)
• Determine the maximum holding time (if the time comes, win and lose without stopping, do not count the wins and losses, leave decisively, look for the next opportunity)

If you can do this, the number of instant losses is equal to the number of gains.

To do this, the first step is to have an objective understanding (more than half of these people are not easy to do); the second step is to overcome psychological factors, including various psychological illusions (the most difficult, the most difficult). Of course, only a few people will ever be able to do it.